garuntor

[christmasbabygirl]

what does a garuntor have to have? for private renting btw, im thinking of doing something called the rent deposit scheme in my area with my local council, someone must know lol x

 

[sam96031]

sorry no advice but we did have a guarntor mortgage to buy our first house

 

[sarafet]

as far as i know, your guarantor is the person who is willing to be responsible for your rent payments should you be unable to pay it

 

[bonny]

as far as i know, your guarantor is the person who is willing to be responsible for your rent payments should you be unable to pay it

Yup, if you are private renting and or on benifits usually you will be asked by the estate agent for one. Its just another point of contact for the landlord should you not pay your rent. It has to be someone with a full time job usually to.

 

[christmasbabygirl]

My Dad seems to think that the garuntor needs to have a certain amount of cash in the bank and has to have good credit? i thought they just had to earn so much per week? x

 

[sam96031]

i think they have to have a good credit history but money in the bank im not too sure

 

[bonny]

When i was asked for one, it was just someone that was in full time employment. They may well do a credit check as well. That bit im not sure of as i didnt need one in the end anyway.

 

[sam96031]

one of our guarantours was retired but because they had proof of the pension income that was enough

 

[leckershell]

I never had to provide any information about my guarantors, they just asked me for my parents names as a guarantor as they were treating me like I was immature

As far as I know, its just someone who agrees to pay your rent if you cant. I dont suppose they care how they get paid or whether you bankrupt your mom or not, just so long as they gets paid lol.